Illinois General Assembly - Illinois Compiled Statutes

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215 ILCS 5/154

(215 ILCS 5/154) (from Ch. 73, par. 766)

Sec. 154.

Misrepresentations and false warranties.

No misrepresentation or false warranty made by the insured or in his
behalf in the negotiation for a policy of insurance, or breach of a
condition of such policy shall defeat or avoid the policy or prevent its
attaching unless such misrepresentation, false warranty or condition shall
have been stated in the policy or endorsement or rider attached thereto, or
in the written application therefor. No such misrepresentation
or false warranty shall defeat or avoid the policy unless it shall have
been made with actual intent to deceive or materially affects either the
acceptance of the risk or the hazard assumed by the company. With respect to
a policy of insurance as defined in subsection (a), (b), or (c) of
Section 143.13,
except life, accident and health, fidelity and surety, and ocean marine
policies,
a policy or
policy renewal shall not be rescinded after the policy has been in effect for
one year or one policy term, whichever is less. This Section
 shall  not apply to policies
of marine or transportation insurance.

(Source: P.A. 89-413, eff. 6-1-96.)